Re: Bankruptcy, filing vs not. savings, with filing vs not

I would try to sweat it out a bit longer. IIRC, ‘unsecured’ means they cannot take your home. They may take you to court and try to sue you, and if they win, most of the time courts will NOT boot the kids or you out. The victor puts a lien on the house and thy collect when you die or re-finance.

Have you spoken with the mortgage lender to see about changing to a FIXED loan? Even with a $7000-9000.00 addition on that debt, over time, it may work out a bit cheaper and more predictable in the long haul.

I think we have decided to wait another month, so I am paying my mortgage again this month. Trying to weigh what is best for us. God, I am scared of being homeless! Been there once, don’t think I can do it again. (Not due to poverty, due to a new job and relocatinig to a very difficult area to find rentals with kids and pets, I even lost a baby during that move, so I am really freaked out about it.)

I guess the president finally signed some papers that might help us. He signed to freeze interest rates that will go up in 2008 and 2009. Not sure why he didn’t do 2007. Stupid I guess. I have to do some research and see if this will help us and if we qualify, then its back to reevaluating.

Hi there, yes, I did speak with them they are in so much trouble they have stopped making any loans or refinancing al together. They are Option One. One of the worst predatorial loan lenders out there right now. I am going to wait another month, see if we qualify for a modification. thanks so much for your advice.